Governor Steve Bullock announces Pyramid Mountain Lumber will receive a $650,000 loan for three different capital improvement projects. The loan will fund two projects to increase production at the Seeley Sawmill. A third project will improve the clean-up process and provide some cash flow.
Pyramid is a privately-owned company, and the largest employer in the Seeley Lake area. Company officials say the funds will allow the company to keep pace with global competition.
"Recovery is really going to catch hold here, and the rest of the mills will be fine, and that should be the hope of all Montanans, because there's a risk of the mills still here, because Montanans own a lot of lumber and someone has to manage it," said Pyramid Lumber CEO, Loren Rose.
In total, the projects will help retain 140 current jobs and create eight new jobs.